FxWirePro Short term Outlook: S&P500 likely to breach 2300

As the President-elect Donald Trump addressed in his first press conference since the election, several issues ranging from his conflict of interest with his own business empire to Russian hacking allegations and laid out his idea of changing how the federal government procures medicines from the pharmacy companies, US benchmark stock index declined 0.7 percent. However, the index later recovered and moved to a higher high. This shows how resilient the index is.

We have already called on the S&P 500 to reach as high as 2470 in the long run, we suspect there is a window of opportunity for short-term traders as well, those of who are looking to make some dough with relatively low risks.

Trade idea:

Buy S&P 500 at the current price of 2269 and at dips with a target of 2310 and the stop loss at 2235.